by Roberto Susi on January 05, 2018
January 5, 2018 -- In a submarket characterized by brisk retail demand, the former Tony Roma’s Restaurant at 3300 NW 87th Ave in Doral, FL has sold to WAGAS V DORAL, LLC, an affiliate of Unicorp, for $6,400,000. Axiom Capital Advisors, LLC Principal Roberto Susi represented the buyer. and Marcus & Millichap Senior Investment Associate Debra Franklin represented the seller, ROMACORP, INC. The sale closed on January 4, 2018 Comprised of a 6,181 SF single-story building on a 1.56 acre site, the property is situated in one of Miami’s busiest sub-markets, there is 47,000 cars driving by on NW 87th Ave. The property is uniquely positioned to capture the ever growing customer base in Doral.
The current tenant Tony Roma’s has closed its doors. The Buyer has plans to redevelop this property in the near future.
“This property fit in with the strategic vision for the buyer, as they look to procure prominent retail corners across the state of Florida.” notes Axiom Capital Advisors Roberto Susi, who represented the Buyer.
“With the continuous rise in real estate values in Doral, the seller recognized an opportunity to capture a substantial amount of equity and allow for redevelopment of the property." notes Marcus & Millichap's Debra Franklin, who represented the Seller.
Retail vacancy and net absorption in Doral has mirrored the trends countywide. The pent up demand in retail space during 2017 allowed the sub-market to have a very low vacancy rate. About Axiom Capital Advisor, LLC
Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.